FG Unveils Digital Payment and Identity Reports to Boost Nigeria’s Role in $3.5trn AfCFTA Market
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The Federal Government on Monday in Abuja unveiled the “Cross-Border Digital Payments and Identity in Nigeria under the African Continental Free Trade Area (AfCFTA) reports.
The programme was unveiled by the Deputy Chief of Staff to the President, Sen. Ibrahim Hassan Hadejia, in Abuja.
Hadejia urged stakeholders to unlock trade opportunities for Micro, Small and Medium Enterprises (MSMEs) to access the $3.5 trillion dollars AfCFTA market.
He described the research as both timely and strategic, noting the strong coordination by the Office of the Vice President and the leadership of the Federal Ministry of Industry, Trade and Investment.
He revealed that the cross-border payments report followed earlier milestones, including the development and launch of Nigeria’s Digital Trade Strategy and a capacity-building programme for subnational leaders.
He noted that Nigeria was increasingly assuming a leading role in shaping the digital trade agenda across the African continent.
According to him, the country remains at the forefront of AfCFTA implementation.
He expressed the Federal Government commitment to strengthening critical infrastructure, regulatory frameworks, and partnerships to ensure Nigeria was not only ready for digital trade but continued to lead.
“I appreciate the efforts of all stakeholders and urge us to move AfCFTA beyond a continental agreement to a $3.5 trillion trade juggernaut.
“This will reinvigorate our industries, unlock intra-African trade, and domesticate African prosperity,” he added.
Hadejia said that intra-African trade would be driven not only by large corporations but by small businesses empowered through digital trade and e-commerce.
He noted that issues of trust, identity, and logistics, as highlighted in the report, must be addressed.
Special Adviser to the President on Job Creation and MSMEs, Temitola Adekunle-Johnson, said the report would significantly strengthen the MSME ecosystem.
He explained that cross-border payments in Nigeria and across Africa had historically been largely informal and inefficient.
Adekunle-Johnson, however, noted that the emergence of the Bank Verification Number (BVN) and the National Identification Number (NIN) systems was changing the landscape.
Special Assistant to the President on Project Support, Shuda Ahmed, commended ODI Global for leading the research underpinning the report.
She noted that without seamless and affordable cross-border payment systems, MSMEs across the continent would be unable to scale beyond their domestic markets.
